Are balloon payments illegal for an owner finance?

Question

This article says there are a lot of restrictions on seller financing: https://www.thebalance.com/buy...

1. Max three seller finance properties per year (you as the seller)

2. No balloon payment

That kills a deal structure I had in mind if it is true. Or are there workarounds and if so, what exactly?

Tanner Sherman · Answer

What is the deal structure you were tryihng to do?

Lori Williams · Answer

A land contract is seller financing, and there's usually a date certain that the note has to be refinanced, or purchased outright, which constitutes a balloon payment.

or have I missed land contracts going down the drain?

Are balloon payments illegal for an owner finance?

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